Brighton Jones LLC Raises Stake in Netflix, Inc. (NASDAQ:NFLX)

Brighton Jones LLC increased its stake in shares of Netflix, Inc. (NASDAQ:NFLX) by 2.3% during the first quarter, according to its most recent filing with the SEC. The institutional investor owned 10,391 shares of the Internet television network’s stock after purchasing an additional 237 shares during the period. Brighton Jones LLC’s holdings in Netflix were worth $6,311,000 as of its most recent SEC filing.

A number of other institutional investors have also added to or reduced their stakes in the stock. Valued Wealth Advisors LLC increased its stake in Netflix by 80.0% in the 1st quarter. Valued Wealth Advisors LLC now owns 45 shares of the Internet television network’s stock worth $27,000 after acquiring an additional 20 shares during the last quarter. Indiana Trust & Investment Management CO increased its stake in Netflix by 112.0% in the 1st quarter. Indiana Trust & Investment Management CO now owns 53 shares of the Internet television network’s stock worth $32,000 after acquiring an additional 28 shares during the last quarter. VitalStone Financial LLC increased its stake in Netflix by 933.3% in the 4th quarter. VitalStone Financial LLC now owns 62 shares of the Internet television network’s stock worth $30,000 after acquiring an additional 56 shares during the last quarter. Scarborough Advisors LLC bought a new position in Netflix in the 4th quarter worth about $32,000. Finally, Beaird Harris Wealth Management LLC increased its stake in Netflix by 1,550.0% in the 4th quarter. Beaird Harris Wealth Management LLC now owns 66 shares of the Internet television network’s stock worth $32,000 after acquiring an additional 62 shares during the last quarter. Hedge funds and other institutional investors own 80.93% of the company’s stock.

Netflix Stock Down 1.5 %

Shares of NFLX stock traded down $9.70 during mid-day trading on Friday, hitting $633.34. The company’s stock had a trading volume of 9,799,761 shares, compared to its average volume of 3,961,102. Netflix, Inc. has a 52-week low of $344.73 and a 52-week high of $697.49. The business has a 50-day moving average price of $655.28 and a 200 day moving average price of $601.42. The company has a debt-to-equity ratio of 0.62, a quick ratio of 1.07 and a current ratio of 1.07. The stock has a market cap of $272.97 billion, a price-to-earnings ratio of 44.23, a PEG ratio of 1.40 and a beta of 1.27.

Netflix (NASDAQ:NFLX) last posted its quarterly earnings data on Thursday, July 18th. The Internet television network reported $4.88 EPS for the quarter, beating analysts’ consensus estimates of $4.74 by $0.14. The company had revenue of $9.56 billion during the quarter, compared to analysts’ expectations of $9.53 billion. Netflix had a return on equity of 29.62% and a net margin of 18.42%. Netflix’s revenue for the quarter was up 16.8% compared to the same quarter last year. During the same quarter in the prior year, the business earned $3.29 earnings per share. Research analysts predict that Netflix, Inc. will post 18.35 EPS for the current fiscal year.

Wall Street Analyst Weigh In

Several equities analysts have recently commented on the company. Canaccord Genuity Group reiterated a “hold” rating and set a $585.00 price objective (down from $720.00) on shares of Netflix in a research report on Friday, April 19th. Barclays lifted their price target on Netflix from $475.00 to $550.00 and gave the stock an “equal weight” rating in a research note on Tuesday, April 9th. Guggenheim lifted their price target on Netflix from $700.00 to $735.00 and gave the stock a “buy” rating in a research note on Wednesday. Argus boosted their target price on Netflix from $660.00 to $767.00 and gave the company a “buy” rating in a research note on Tuesday, July 2nd. Finally, Bank of America boosted their target price on Netflix from $700.00 to $740.00 and gave the company a “buy” rating in a research note on Monday. One research analyst has rated the stock with a sell rating, twelve have issued a hold rating and twenty-four have issued a buy rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $666.71.

Insider Activity at Netflix

In related news, Chairman Reed Hastings sold 22,526 shares of the company’s stock in a transaction on Monday, July 1st. The stock was sold at an average price of $670.49, for a total transaction of $15,103,457.74. Following the completion of the sale, the chairman now owns 57 shares in the company, valued at $38,217.93. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. In other Netflix news, Chairman Reed Hastings sold 22,526 shares of the company’s stock in a transaction dated Monday, July 1st. The stock was sold at an average price of $670.49, for a total value of $15,103,457.74. Following the completion of the sale, the chairman now owns 57 shares in the company, valued at $38,217.93. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Also, CEO Gregory K. Peters sold 4,783 shares of the company’s stock in a transaction dated Friday, June 14th. The stock was sold at an average price of $675.00, for a total value of $3,228,525.00. Following the completion of the sale, the chief executive officer now owns 13,090 shares of the company’s stock, valued at approximately $8,835,750. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 71,385 shares of company stock worth $44,469,351. 1.76% of the stock is owned by insiders.

About Netflix

Netflix, Inc provides entertainment services. It offers TV series, documentaries, feature films, and games across various genres and languages. The company also provides members the ability to receive streaming content through a host of internet-connected devices, including TVs, digital video players, TV set-top boxes, and mobile devices.